[ BUSINESS BRIEFS ]

The government has extended import tariff cuts on powdered milk for another six months from last Friday to help stabilize rising prices, the Ministry of Finance yesterday said in a statement.

The move came after the previous import tariff cuts on powdered milk ended on Thursday, the ministry said.

Focus on strategy: IBM manager

Taiwan’s corporations should focus more on strategizing and developing software instead of on cutting costs, IBM Taiwan general manager Edward Yu (于弘鼎) said yesterday.

Instead of devoting their efforts to reducing costs, businesses should look at the bigger picture and develop strategies that could cushion them against the highs and lows of the economic cycle, Yu said.

They should strategize around effective decisions, innovation and new technologies, Yu said at a conference on the firm’s operation strategies this year.

To become successful business innovators, companies should tap into new business opportunities and create new user experience, Yu said.

Social networking Web sites are a good example, Yu said, noting that many banks have been using such sites to launch new financial products.

In an age when processing massive quantities of data has become everyday business, corporations should develop cloud-computing technologies and sharpen their data analyzing skills, he added.

Taiwan, prefecture sign MOU

Taiwan is expected to forge closer relations and partnerships with Fukui Prefecture in Japan, based on a memorandum of understanding (MOU) that was signed in Taipei yesterday, representatives of both sides said.

The MOU serves as the basis for investment cooperation and technological exchanges between small and medium-sized enterprises on both sides, with the aim of boosting both countries’ economies, said Tsay Ching-yen (蔡清彥), president of the Association for Taiwan-Japan Cooperation on Industrial Technology.

The signing of the MOU is one of the items on the agenda of a 50-member Japanese delegation that is visiting Taiwan until tomorrow.

The delegation, led by Fukui Prefecture Governor Issei Nishikawa, is scheduled to meet with trade authorities, local governments and commercial and educational organizations.

Taiwan, OSEO to cooperate

The Department of Industrial Technology and French financial company OSEO signed an agreement on Monday to cooperate in promoting innovation and research and development.

OSEO, a French public company that provides financial support for small and medium-sized enterprises and helps them to innovate, will support development and innovation projects between the two countries and help finance the ventures.

The signing ceremony took place at Taiwan’s representative office in Paris and was witnessed by Taiwanese Representative Michel Lu (呂慶龍).

OSEO chairman Francois Drouin said the company helps enterprises with technological innovation and could offer them financial guarantees or loans through co-financing.

A total of 84,000 companies raised 31 billion euros (US$40.8 billion) in financial assistance through OSEO last year.

NT dollar loses ground

The New Taiwan dollar lost ground against the US dollar yesterday, declining NT$0.06 to close at NT$29.595. Turnover totaled US$953 million.